Sharp net sales in Q1 decreased

August 4, 2023

The company reported that net sales for Q1, fiscal 2023, decreased year-on-year.

Sharp recorded net sales for the quarter of ¥541.2 billion ($3.8 billion/ €3.5 billion), a 3.7% decrease year-on-year. Although operating profit, ordinary profit and bottom-line profit were lower year-on-year, Sharp said that these results outperformed Q4, fiscal 2022.

Sales for its Smart Office segment that includes its MFPs, were down 2.8% year-on-year at ¥126.6 billion ($887 million/ €811 million). Sharp said that it saw an increase in MFP business sales and that the MFP business and office solutions business remained strong, especially in Europe and the US.

Overall Sharp said that its performance has been in line with expectations. The company left the results forecast for fiscal 2023 unchanged.